Notice to all California residents, SALT has entered into an Agreement with the Department of Financial Protection and Innovation of the State of California.

According to the terms of the Agreement, SALT has agreed, among other things, to the following:

SALT will pause collection of repayments on loans belonging to California residents while SALT’s CFL License is suspended or as further agreed to between the parties.
SALT will pause collection of interest payments on loans belonging to California residents while SALT’s CFL License is suspended or as further agreed to between the parties.
SALT will otherwise pause collection on loans belonging to California residents while SALT’s CFL License is suspended or as further agreed to between the parties.
SALT will return any interest earned, accrued, or otherwise charged to borrowers that are California residents while SALT’s CFL License is suspended or as further agreed to between the parties.
On and after November 16, 2022, SALT will not report to credit agencies and organizations that any loans belonging to California residents have become delinquent or defaulted, and SALT will not otherwise take any action that may harm California residents’ credit scores on such loans.
During the Department’s suspension, SALT will not convert, pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer, dispose of, or use any amount of crypto assets belonging to California residents. If SALT later seeks to transfer crypto assets belonging to California residents back to these residents solely for these residents’ benefit, SALT will first notify the Department.
SALT will not charge customer accounts belonging to California residents via Automated Clearing House or other similar payment processes.
SALT agrees that it will not directly advertise or otherwise market financial products and services to California residents either through its website or direct- to-consumer advertising or marketing campaigns while its CFL License is suspended. Notwithstanding the foregoing, SALT may continue to maintain and operate its website.

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